Tax-efficient' funds may simply be closet indexers: James Saft
Tax-managed mutual funds may simply be closet indexers, and expensive faux trackers at that.
That’s according to a study of U.S. equity mutual funds classified as tax-managed, meaning they attempt to add value by both active management and keeping taxes at bay.
Saft, James, "Tax-efficient' funds may simply be closet indexers: James Saft" (2015). In the News. 743.